Bakkt to Acquire Distributed Technologies Research in Stablecoin Payments Push

Bakkt Holdings, Inc. said it has agreed to acquire Distributed Technologies Research Ltd. (DTR), marking progress in its strategy to build stablecoin settlement and programmable payments capabilities. The transaction will be executed through an all-equity consideration, with Bakkt issuing shares of its Class A common stock representing 31.5% of the “Bakkt Share Number” defined under a previously disclosed cooperation agreement between the two companies. Based on the current share number, this equates to ...